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Service Revenue 2280 Sales Revenue 8040 & Service Revenue 1867 Sales Revenue 8453 Both answers are incorrect. Please help me Sheridan offers contract BM205, which
Service Revenue 2280 Sales Revenue 8040
&
Service Revenue 1867 Sales Revenue 8453
Both answers are incorrect. Please help me
Sheridan offers contract BM205, which comprises a free-standing gas barbecue for small patio use plus installation to a customer's gas line for a total price of $ 860. On a stand-alone basis, the barbecue sells for $ 760 (cost $ 480), and Sheridan estimates that the fair value of the installation service (based on cost-plus estimation) is $ 190. Sheridan signed 12 BM205 contracts on April 20, 2020, and customers paid the contract price in cash. The barbecues were delivered and installed on May 15, 2020. Prepare journal entries for Sheridan for BM205 in April and May 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.) late Account Titles and Explanation Debit Credit 0, 2020 Cash 10320 Unearned Revenue 10320 5, 2020 Unearned Revenue 10320 Service Revenue 1867 Sales Revenue 8453 (To record sales) 5, 2020 Cost of Goods Sold 5760 Inventory 5760 (To record cost of goods sold)Step by Step Solution
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